Comparative Income Statement Use the following comparative income statement form to enter amounts you identify from the computations on the Liquidity and Solvency Measures part and on the Profitability Measures part. Compute any missing amounts and complete the horizontal analysis columns. Enter percentages as decimal amounts, rounded to one decimal place. When rounding, look only at the figure to the right of one decimal place. If < 5, round down and if z 5, round up. For example, for 32.048 % enter 32.0%. For 32.058% enter 32.1%. Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other expense (interest) Income before income tax expense Income tax expense Net income Comparative Income Statement For the Years Ended December 31, 20Y6 and 20Y5 20Y6 8,250,000 X (1,242,000) 20Y5 $7,287,000 (3,444,000) $3,843,000 $(1,457,600) (1,106,000) $(2,563,600) $1,279,400 (120,600) $1,158,800 (181,980) $976.820 Increase/(Decrease) Amount 823,000 X Percentage % % % % % % % % % % %
Comparative Income Statement Use the following comparative income statement form to enter amounts you identify from the computations on the Liquidity and Solvency Measures part and on the Profitability Measures part. Compute any missing amounts and complete the horizontal analysis columns. Enter percentages as decimal amounts, rounded to one decimal place. When rounding, look only at the figure to the right of one decimal place. If < 5, round down and if z 5, round up. For example, for 32.048 % enter 32.0%. For 32.058% enter 32.1%. Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other expense (interest) Income before income tax expense Income tax expense Net income Comparative Income Statement For the Years Ended December 31, 20Y6 and 20Y5 20Y6 8,250,000 X (1,242,000) 20Y5 $7,287,000 (3,444,000) $3,843,000 $(1,457,600) (1,106,000) $(2,563,600) $1,279,400 (120,600) $1,158,800 (181,980) $976.820 Increase/(Decrease) Amount 823,000 X Percentage % % % % % % % % % % %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Comparative Income Statement
Use the following comparative income statement form to enter amounts you identify from the computations on the Liquidity and Solvency Measures part and on the Profitability Measures part. Compute any missing amounts and complete the horizontal analysis columns. Enter percentages as decimal amounts, rounded to
one decimal place. When rounding, look only at the figure to the right of one decimal place. If < 5, round down and if > 5, round up. For example, for 32.048% enter 32.0%. For 32.058% enter 32.1%.
Sales
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
Total operating expenses
Operating income
Other expense (interest)
Income before income tax expense
Income tax expense
Net income
Comparative Income Statement
For the Years Ended December 31, 20Y6 and 20Y5
$
20Y6
8,250,000 X
(1,242,000)
20Y5
$7,287,000
(3,444,000)
$3,843,000
$(1,457,600)
(1,106,000)
$(2,563,600)
$1,279,400
(120,600)
$1,158,800
(181,980)
$976,820
$
$
$
Increase/(Decrease)
Amount
823,000 X
Percentage
%
%
%
%
%
%
%
%
%
%
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F16b5d17a-629f-40c8-80cb-96e7bd227627%2Fe7a3dd67-2e87-4254-a41d-f0cb229e3bae%2Fjrw0btq_processed.png&w=3840&q=75)
Transcribed Image Text:Comparative Income Statement
Use the following comparative income statement form to enter amounts you identify from the computations on the Liquidity and Solvency Measures part and on the Profitability Measures part. Compute any missing amounts and complete the horizontal analysis columns. Enter percentages as decimal amounts, rounded to
one decimal place. When rounding, look only at the figure to the right of one decimal place. If < 5, round down and if > 5, round up. For example, for 32.048% enter 32.0%. For 32.058% enter 32.1%.
Sales
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
Total operating expenses
Operating income
Other expense (interest)
Income before income tax expense
Income tax expense
Net income
Comparative Income Statement
For the Years Ended December 31, 20Y6 and 20Y5
$
20Y6
8,250,000 X
(1,242,000)
20Y5
$7,287,000
(3,444,000)
$3,843,000
$(1,457,600)
(1,106,000)
$(2,563,600)
$1,279,400
(120,600)
$1,158,800
(181,980)
$976,820
$
$
$
Increase/(Decrease)
Amount
823,000 X
Percentage
%
%
%
%
%
%
%
%
%
%
%
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